BNB Short Squeeze on Hyperliquid: Largest $12.04M Short Faces $2.54M Unrealized Losses, Liquidation Price $1,045

On October 8, COINOTAG reported that on-chain analyst Ai Yi identified the largest BNB short on Hyperliquid—address 0x856…e910d—which initially held approximately $12.04 million in short exposure. Current on-chain metrics show a mark-to-market deficit of roughly $2.54 million in unrealized losses, with a recorded liquidation price at $1,045. Exchange transaction records indicate the position underwent a partial liquidation within the past five hours, incrementally reducing the open short. These observations are based on verifiable on-chain data and platform records, without speculative commentary on future price movements or causal inferences.